Q1 2025 Mckesson Corp Earnings Call Transcript
Key Points
- McKesson Corp (MCK) reported first quarter revenues of $79.3 billion, reflecting a 6% growth year-over-year.
- Adjusted earnings per diluted share increased 8% to $7.88, exceeding original expectations.
- The company raised its full-year adjusted earnings per diluted share guidance to a new range of $31.75 to $32.55.
- The Board of Directors approved a 15% increase to the quarterly dividend and additional share repurchase authorization of up to $4 billion.
- Strong performance in the US pharmaceutical segment, driven by growth in specialty pharmaceuticals and oncology platforms.
- Medical-surgical segment experienced slower growth than anticipated, resulting in a year-over-year decline for the first quarter.
- Prescription technology solutions segment's adjusted operating profit was unchanged from the prior year due to higher expenses and lower contributions from access programs.
- Operating expenses increased by 7% to $1.9 billion, primarily to support growth in the US pharmaceutical segment.
- The company faced headwinds in the primary care channels, impacting the medical-surgical segment's performance.
- Product launch delays and supply shortages affected the prescription technology solutions segment's revenue growth.
Welcome to McKesson's first quarter fiscal 2025 earnings conference call. Please be advised that today's conference is being recorded. At this time, I would like to turn the call over to Rachel Rodriguez, VP of Investor Relations. Please go ahead.
Thank you, operator. Good afternoon, and welcome, everyone to McKesson's first quarter fiscal 2025 earnings call. Today, I'm joined by Brian Tylor, our Chief Executive Officer; and Britt Vitalone, our Chief Financial Officer. Brian will lead off followed by Britt, and then we will move into a question and answer sessions.
Safe discussions will include forward-looking statements such as forecasts about McKesson's operations and future results. Please refer to the cautionary statements in today's earnings release and presentation slides available on our website at investor.mckesson.com and to the risk factors section of our most recent annual report and other SEC filings for additional information concerning risk factors that could cause our
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